Car credit customers repairing own vehicles

Car credit customers are combating the credit crunch by repairing their own vehicles and resisting the temptation to upgrade, according to Halfords.

Nick Wharton, Joint Managing Director of Halfords, said that the company was beginning to benefit from car credit customers keeping hold of their old vehicles.
The company has reported a surge in demand for products such as car batteries, oil, seat covers, and windscreen wipers.

As the credit crunch starts to bite, customers are choosing to improve the cars they already own by spending their car credit on sat nav and new steroes, rather than trading in the whole vehicle for an improved model.

In recent months there has been a noticeable slowdown in car and general retail sales as consumers struggle with higher food and energy costs. Cheap car credit is also harder to obtain than it once was.

Halfords has beaten City expectations as a result of selling more products related to car improvements. The company reported sales growth of 1.7 per cent in the 13 weeks to June 27. Like-for like sales were flat at 0.2 per cent.

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